I checked my report last year a little earlier than now, and FICO was 688.
I went back today to just get another report and FICO is currently at 698.
All show correct info, 9 paid off and closed, 3 left and a signature closed end loan at my FCU, and nothing delinquent or outstanding.
Does a 10 point raise in a little over a year seem like ‘normal’ progress?
I know when a couple of smaller debts go away, it’ll really shoot up because IIRC they also go by Income and the debts…. am I right in that presumption?

My credit score has fluctuated as much as nearly 50 points in a quarter so a 10 point raise is minimal in my opinion. My score actually went up 5 points last month alone. I dont understand your concern? if its going up who cares? thats a good thing.

Well, I don’t know if a piffling 10 points in a year of knocking my head against a wall wasn’t a tad bit questionable. Especially as YOU get a five point increase in a MONTH…. I thought I would ask is all. Yeah, yeah, it is going UP, but so tiny!

You can do some things to raise your score. I’ve not really done anything to raise mine and as a matter of fact two months prior I had another negative item added. You can do some things to help boost your score rather quickly.. not by much but every little bit helps. If you have credit card debt and the account(s) are open and active pay them down. The farther away from your limit you are the better it will help your score. Also paying more then the minimum amount required monthly. There was a news story I saw locally and I’ll try to find it again but I found their ideas and suggestions very helpful. After trying the above suggestions on both my accounts and my husbands both of our scores improved. I expect a larger increase in mine here this summer when a few items fall off of my report finally. I’m sorry I’m not much help but you should’nt be concerned about it going up.. be more concerned about how you can get it higher faster! 😉

Watch this video:

Isn’t there a rule of thumb that you SHOULD carry a certain percentage balance on your card? Like 20% of credit limit? If you carry cards with zero balances all the time, it hurts your credit score? The way I heard it was that if you have a bunch of zero balance credit cards and apply for a mortgage, you are likely to get turned down because all those cards are “new drapes waiting to happen.”

There are a couple of points here.

First, if you love debt, then yes, carry a small balance. If you prefer to live debt free, close some or all of the paid off debt. Then, when you go to get a mortgage, find a mortgage company that will do real underwriting and not simply run a FICO score. Because, yes, some mortgage companies will look at cc with no balances just as you described. Especially if you are going in with little down and little in the bank.

I am curious about this too. I heard that you need to stay within your debt ratio which is your monthly income (before taxes) multipied by.36. Then your debt needs to be under that range. Gosh even our mortgage isn’t under that range.

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